Africa Traders is a registered VAT vendor. Africa Traders sells furniture and equipment to customers for cash or on credit. The bookkeeper of Africa Traders has prepared the following purchases returns journal for the month ending 28 February 2024 and requires your assistance with regards to the month-end posting to the control account in the general ledger:

PURCHASES RETURNS JOURNAL – February 2024                                                                                  PRJ1

Africa Traders posts individual transactions to the relevant subsidiary ledgers daily and only posts from subsidiary journals to the control accounts at the end of the month in the general ledger.

Which one of the following options of the general ledger accounts reflects the correct posting of the above purchases returns journal for the month ending 28 February 2024 to the control account?

Mr S Africa is the owner of SA Traders. On 31 March 2024, the following list of balances was extracted from the accounting records of SA Traders:

• Computer equipment - R327 480
• Trade payables - R64 960
• Short-term loan - R112 490
• Prepaid expenses - R11 830
• Unfavourable bank balance - R31 943

NB: Instructions

1. Do not type the amount with any spaces as separators for thousands (eg: 12141.72)

2. Use a full stop to indicate any decimals (eg: 1000.01)

3. You must enter cents even if it is 0 (eg .00)

4. Only show the amount, do not show the R (eg: 12141.72)

5. If the net effect on the accounting equation is a decrease, please enter the amount as a negative (eg: -12141.72)

NB: If the below question is not answered, you will receive zero for your assignment!

I declare that the work submitted in this assignment is my own. I did not request assistance to complete the assignment questions from any third parties.

I declare that I did not pay a third party to complete and submit my assignment on my behalf.

I declare that I did not provide assistance to other students completing the assignment.